Homeowners insurance premiums rising amid mounting weather-related losses, inflation: report

Homeowners insurance premiums are soaring due to increased weather-related losses and inflation, impacting insurers' profitability. A Moody's report indicates that insurers have consistently paid out more in claims than received in premiums over the past decade. This has led to widespread rate hikes, with significant increases especially in disaster-prone areas. Additionally, rising construction and labor costs further exacerbate the financial strain for both insurers and homeowners.